A Belgian/ Dutch media group, Mediahuis, is to buy Independent News and Media, the company that owns a range of local newspapers in Ireland, including the Sligo Champion.
The deal for 145 million euro was announced to the stock exchange this morning.
Shareholders are to receive 10.5 cent per share.
The deal will need regulatory approval.
Business journalist Vincent Wall says it remains to be seen if any provision has been made for a number of ongoing legal issues in the company.